Economist 1022

1. Duterte’s pivot: Is the Philippines, until now a staunch American ally, falling into the Chinese camp?

Staunch: firm or steadfast in principle

Plutocracy : a country that is ruled by the richest people

Largesse:  generous bestowal of gifts

Phillipine president Rodrigo Duterte has a four day state visit in China.  In terms of timeline,

June: Rodrigo Duterte became the president of Philippines

July: the international tribunal court Philippines's South China sea which infuriated China.

In recent weeks: Duterte humiliated Obama and publicly defiled the long term relationship with US.

In the process of constructing the New Silk Road and New Maritime Silk Road, China has been generous to neighbouring countries esp S.E.Asia via free trade agreements and the Asian Infrastructure bank. All these excluded Phillipines, whose economy has been sacrificed by being the ally of US. Furthermore, patriotic Filipinos still remember the atrocities brought about during American colonised period.

Philippines' radical switch of alliance proved what Palmerston said, "We have no eternal allies, and we have no perpetual enemies. Our interests are eternal and perpetual, and those interests it is our duty to follow."

2.Charred Chaebol

auto-da-fe:  the public declaration of the judgment passed on persons tried in the courts of the the Spanish Inquisition

Samsung's combustible Note 7 has raised concerns of users/mobile operators. However rest assured, as proven before, that Samsung employees had worked harder in times of adversity. Reputation crisis draws more attention to the transitting management rather than the financial losses caused by the faulty Note 7 battery.

With greater complexity, Samsung is questioned from the supply chain all the way to corporate governance.